Wednesday, April 18, 2007

Home-Based Business - Association Management Services

Association Management Services
  • Start-up cost: RM2,000- RM9,000
  • Potential earnings: RM20,000- RM50,000
  • Typical fees: Monthly retainers of RM1,000- RM5,000 are not uncommon (directly dependent upon the association’s size)
  • Advertising: Network with professional and trade associations, advertise in related publications
  • Qualifications: Good organizational, writing, marketing, communication, and motivation skills, an eye for detail, office management or administrative experience is helpful
  • Equipment needed: Office and computer equipment, phone, fax, copier, business cards, letterhead, supplies Home business potential: Yes
  • Staff required: No
  • Handicapped opportunity: Yes
  • Hidden costs: Membership in associations; subscriptions to related publications
  • Lowdown: From the Association for Association Management (yes, there really is an association for everyone) to the Association for Children for Enforcement of Support, most organizations need help in managing their operations. Especially well-suited to a management service are groups too big to rely solely on volunteers but not big enough to justify hiring someone to do it on a full-time basis. Your services for each client may vary, but may include maintaining membership lists, publishing a newsletter, mailing out information about the organization, keeping records, collecting dues, and handling meetings, events, and fund-raising activities. Not only can you work for an existing organization, you could also start an association of your own. Best bet: base it on your own profession or something else with which you have personal experience.
  • Start-Up: Office and computer equipment are your biggest expenses (about RM2,000). You may be able to get the organization(s) you represent to pay for some supplies, but that is not something to rely on at the business plan stage. Charge a monthly retainer of RM1,000-RM5,000 for your services to make sure you cover all of your expenses; since many of these associations work with volunteers, they may try to take advantage of your expertise, too. Don’t let them. Bottom-Line Advice: Association management provides a great variety of duties and an opportunity to interact with interesting people. You will also get opportunities to learn about an array of topics at meetings and conventions. This is a great opportunity for those with philanthropic tendencies.

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